Key Points
- SVP Annie McGuire sold 10,739 shares of Veracyte on December 16 at an average price of $43.13 for roughly $463,173, reducing her stake by 13.68% to 67,760 shares.
- Veracyte beat quarterly expectations, reporting $0.51 EPS versus $0.32 expected and revenue of $131.9M (+13.8% YoY); the stock trades around $42 and carries an average analyst price target of $45.43 with a "Moderate Buy" consensus.
- Several institutional investors have been adding or initiating positions—including Champlain, Artisan, Squarepoint, Fred Alger and Soleus—indicating notable institutional accumulation in the stock.
Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) SVP Annie Mcguire sold 10,739 shares of the business's stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $43.13, for a total value of $463,173.07. Following the completion of the sale, the senior vice president owned 67,760 shares of the company's stock, valued at approximately $2,922,488.80. This represents a 13.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Annie Mcguire also recently made the following trade(s):
- On Thursday, December 4th, Annie Mcguire sold 1,422 shares of Veracyte stock. The shares were sold at an average price of $47.30, for a total transaction of $67,260.60.
- On Wednesday, November 5th, Annie Mcguire sold 6,466 shares of Veracyte stock. The stock was sold at an average price of $40.00, for a total transaction of $258,640.00.
- On Friday, September 19th, Annie Mcguire sold 2,283 shares of Veracyte stock. The shares were sold at an average price of $33.69, for a total transaction of $76,914.27.
Veracyte Trading Up 0.5%
Shares of VCYT traded up $0.22 during mid-day trading on Thursday, hitting $42.43. 23,895 shares of the company's stock were exchanged, compared to its average volume of 1,091,540. The firm has a market capitalization of $3.35 billion, a P/E ratio of 111.80 and a beta of 1.83. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71. The business's 50 day moving average is $40.61 and its two-hundred day moving average is $32.90.
Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19. The company had revenue of $131.87 million for the quarter, compared to the consensus estimate of $124.62 million. Veracyte had a return on equity of 7.23% and a net margin of 6.12%.The company's revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. On average, equities research analysts forecast that Veracyte, Inc. will post 0.68 earnings per share for the current year.
Institutional Investors Weigh In On Veracyte
Several institutional investors and hedge funds have recently made changes to their positions in the business. Champlain Investment Partners LLC acquired a new stake in shares of Veracyte in the third quarter valued at approximately $40,064,000. Artisan Partners Limited Partnership lifted its stake in Veracyte by 20.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 6,321,775 shares of the biotechnology company's stock valued at $170,878,000 after buying an additional 1,082,064 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Veracyte by 770.6% during the 2nd quarter. Squarepoint Ops LLC now owns 897,387 shares of the biotechnology company's stock valued at $24,256,000 after buying an additional 794,307 shares during the last quarter. Fred Alger Management LLC acquired a new stake in Veracyte during the 3rd quarter valued at $26,348,000. Finally, Soleus Capital Management L.P. purchased a new position in Veracyte during the second quarter worth $19,338,000.
Analysts Set New Price Targets
VCYT has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Veracyte from $40.00 to $43.00 and gave the company a "hold" rating in a research report on Wednesday, November 5th. Guggenheim raised their price target on Veracyte from $40.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, November 5th. Needham & Company LLC increased their price objective on Veracyte from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Veracyte from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 13th. Finally, UBS Group increased their target price on shares of Veracyte from $42.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Veracyte currently has an average rating of "Moderate Buy" and an average price target of $45.43.
Get Our Latest Research Report on VCYT
Veracyte Company Profile
(
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Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
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